On the Theories of Free Trade and Protection, 1921

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Excerpt from On the Theories of Free Trade and Protection, 1921: A Survey and a Criticism In a paper read before the Nationalekonomiska Klubben in Stockholm, which has since been published in a volume dedicated to Professor Davidson, Uppsala, Editor of the Ekonomisk Tidskrift, I have discussed at some length some of the modem arguments in favour of Free Trade and Protection. I came to the conclusion that most of the arguments in favour of Protection are not valid, i.e. that - so far as can be theoretically ascertained - Free Trade practically always and in the long run is more advantageous for a country than Protection. This is, however, a sweeping statement, and one which is not true without further qualifications. With the kind permission of Professor Davidson I will therefore reproduce some of my arguments. I hope in this way to be able to justify the above statement. It would be a great mistake to suppose that Free Traders condemn Protection as unreasonable under absolutely all conditions. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.